Thursday, April 7, 2016

Nifty Analysis for 7 April

Bonvista Financial Planners
Contact No: 09371444875
Nifty Analysis for 7 April

On daily chart Nifty is in the process of range formation. Broad range is between 7750 and 7500.

Even on intraday chart Nifty is trading in a narrow range of 70 points. This range is between 7650 and 7580.
Breakout beyond this range can give trading opportunities.

This is definitely not a market to go long immediately. If Nifty breaks beyond 7650, it can go up to 7710.
Breakdown below 7582 can take Nifty down to 7550.

Swing Trades (3-4 days) for 7 Apr-
TATASTEEL: Target- 350, stoploss- 314
CUMMINSIND: Target – 897, stoploss- 850
HAVELLS: Target – 340, stoploss- 310

GLENMARK: Target-755 , stoploss- 804
UCOBANK : Target- 35.40, stoploss- 39.50
* Levels are Cash levels (Not futures)
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Only those recommendations where price can be easily be captured.
Keep it simple. Follow the framework.
We do not give those calls where there is fast movement in price. We do not believe in intraday advisory as the price does not wait till the SMS reaches trader/subscriber.
Trade with a portfolio approach- trade all the calls.
We shall guide on position sizing time to time.
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